09:52     VARITRONIX INTL<00710> - Announcement & Resumption (2)              

    Dr. Chang is the Chairman of the Company and held,                        
    through himself and Colville, 69,226,178 Shares                           
    representing approximately 21.88% of the existing                         
    issued share capital of the Company. Upon completion                      
    of the transactions described above, Dr. Chang and                        
    Colville's aggregate interests in the Company are                         
    reduced to approximately 8.04%, and Dr. Yan, Mr. Chung                    
    and Mr. Kwok will hold 3.28%, 1.40% and 0.72% of the                      
    Company's existing issued share capital                                   
    respectively.                                                             
                                                                              
    APPOINTMENT OF DIRECTORS                                                  
    The Board is pleased to announce that Mr. Tsoi Tong                       
    Hoo, Tony, Mr. Ho Te Hwai, Cecil were appointed as                        
    the Executive Directors and Mr. Yuen Kin and Mr. Hou                      
    Ziqiang were appointed as the Independent                                 
    Non-executive Directors with effect from 14 March                         
    2005. Mr. Tsoi was appointed as the Chief Executive                       
    Officer of the Group.                                                     
                                                                              
    Tsoi Tong Hoo, Tony                                                       
    Tsoi Tong Hoo, Tony ("Mr. Tsoi"), aged 40, graduated                      
    from the Ivey Business School of the University of                        
    Western Ontario, Canada with an Honors Business                           
    Administration degree. He has been a Chartered                            
    Financial Analyst since 1989, and has extensive                           
    experience in investment banking and corporate                            
    management. Mr. Tsoi is a member of Dual Filing                           
    Advisory Group of the Securities and Futures                              
    Commission, and a member of the Listing Committees                        
    of the GEM and Main Boards of the Stock Exchange.                         
                                                                              
    Mr. Tsoi was an Executive Director of Universal                           
    Holdings Limited, a company listed on the Stock                           
    Exchange, and has been re-designated to Non-executive                     
    Director as at the date hereof.                                           
                                                                              
    Ho Te Hwai, Cecil                                                         
    Mr. Ho Te Hwai, Cecil ("Mr. Ho"), aged 44, holds a                        
    Bachelor of Commerce degree from the University of                        
    British Columbia, Canada. Mr. Ho is a member of the                       
    Institute of Chartered Accountants of Canada and Hong                     
    Kong Institute of Certified Public Accountants. Mr.                       
    Ho is currently the Group Financial Controller of                         
    Universal Holdings Limited and the Company Secretary                      
    of DVN Holdings Limited, both companies listed on the                     
    Stock Exchange.                                                           
                                                                              
    In the last 3 years, he had been an Executive Director                    
    of Huabao International Holdings Limited from 21 June                     
    2002 to 17 April 2004 and its Company Secretary from                      
    9 July 2002 to 29 March 2004. Mr. Ho had also been                        
    an independent non-executive director and an audit                        
    committee member of Leadership Publishing Group                           
    Limited from 25 February 2003 to 2 March 2004.                            
                                                                              
    Yuen Kin                                                                  
    Mr. Yuen Kin ("Mr. Yuen"), aged 49, holds a Master                        
    of Business Administration degree from the University                     
    of Toronto, Canada and a Bachelor of Arts degree from                     
    the University of Western Ontario, Canada. Mr. Yuen                       
    is a Chartered Accountant in Canada and is a FCPA in                      
    Hong Kong and FCCA in the United Kingdom. Mr. Yuen                        
    has over 25 years in Finance and Accounting and had                       
    held several senior management positions in different                     
    listed corporations in Hong Kong.                                         
                                                                              
    Mr. Yuen is an Independent Non-executive Director of                      
    Universal Holdings Limited and was an Executive                           
    Director and the Chief Financial Officer of The Grande                    
    Group Holdings Limited, a leading electronics                             
    manufacturer in Asia for 12 years until February 2004                     
    and the Independent Non-executive